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This and the next two questions are based on the following conditions Assume that you borrow a 30-year mortgage loan of $300,000. The mortgage rate

This and the next two questions are based on the following conditions

Assume that you borrow a 30-year mortgage loan of $300,000. The mortgage rate is 8%. Prepayments follow the 150PSA.

What is the monthly payment of the mortgage?

Group of answer choices

$16,302.94

$2,201.29

$2,699.18

None

$32,863.94

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